Canadian Organizations Suffer Detrimental Business Losses Due to a Lack of Penetration Testing

Rhea-AI Summary

CDW Canada highlights the critical importance of regular penetration testing in combating sophisticated cyberattacks. Their research indicates that, while 95% of Canadian organizations take security seriously, only 60% conduct penetration testing, with 18% not testing at all. Barriers include lack of priority, expertise, and budget. The report reveals that over 26% faced security breaches leading to productivity (58%), data (37%), and financial losses (25%). CDW emphasizes the need for organizations to engage trusted IT partners for effective threat defense.

Positive

• CDW Canada emphasizes the necessity of penetration testing to improve cybersecurity.
• The research indicates a significant awareness of cybersecurity among Canadian organizations, with 95% acknowledging the importance of protection against threats.

Negative

• Only 60% of organizations carry out penetration testing, and 18% do not conduct any testing, indicating a lack of proactive measures.
• 57% of organizations do not prioritize penetration testing, revealing a significant gap in addressing cybersecurity risks.

New research from CDW Canada reveals financial, productivity and data losses resulting from a failure to conduct regular threat assessments

TORONTO--(BUSINESS WIRE)-- As the threat landscape continues to evolve, new research from CDW Canada, a leading provider of technology solutions and services for Canadian organizations, reveals that regular penetration testing can help organizations defend against increasingly sophisticated cyberattacks. The report, Rooting Out Risks conducted in partnership with Angus Reid, was released today to coincide with CDW’s inaugural Penetration Testing Awareness Day. The campaign aims to raise awareness of the importance of regular penetration testing, which involves a simulated attack against an organization’s network, data and personnel.

The research found that while nearly all (95 percent) Canadian organizations said they take security and protection against threats seriously, only 60 percent of organizations are conducting penetration testing. Even more concerning, nearly one-fifth (18 percent) of Canadian organizations said they are not conducting penetration testing at all, and less than half (40 percent) are making investments in penetration testing. When asked about barriers related to penetration testing, more than half (57 percent) of organizations indicated that penetration testing is not a company priority. Respondents also cited lack of employee expertise/talent (34 percent) and a lack of budget (33 percent) as key barriers to penetration testing, indicating that while organizations need a thorough understanding of threats to stay safe, many lack the time, talent or resources for regular assessments.

“Cyberattacks are increasing in both sophistication and frequency, and regular penetration testing allows organizations to exploit weaknesses and vulnerabilities ahead of bad actors,” said Theo Van Wyk, Head of Solutions Development and Cybersecurity, CDW Canada. “Given the very serious operational and reputational consequences that can result from a cyberattack, it’s imperative that Canadian organizations remain vigilant and leverage this type of testing as a first line of defence.”

In addition, the research found that over one-quarter (26 percent) of Canadian organizations experienced a security breach in the past two years which resulted in detrimental business losses, including loss of productivity (58 percent), loss of data (37 percent) and financial loss (25 percent). With the increased threat of security breaches, the importance of engaging a trusted third-party IT partner to perform penetration testing remains paramount so that security gaps can be detected and bridged before they are exploited.

With decades of industry-leading experience, CDW specializes in reducing security risks by helping organizations prepare for – and defend against – their biggest security threats. As a trusted security partner, CDW develops customized solutions for organization’s unique risks and conducts penetration tests to identify and catalogue vulnerabilities in existing defence systems.

Join the conversation online by following @CDWCanada on Twitter and LinkedIn.

About CDW Canada
CDW Canada is a leading provider of technology solutions for business, government, education and healthcare. CDW Canada helps customers achieve their goals by delivering integrated technology solutions and services that help customers navigate an increasingly complex IT market and maximize the return on their technology investment.

Areas of focus include software, networking, unified communications, data centre and mobility solutions. CDW Canada is on the Channel Daily News Top 100 Solutions Provider list in Canada, and is a wholly owned subsidiary of Vernon Hills, Illinois-based CDW Corporation, a Fortune 500 company. For more information, visit www.cdw.ca.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220412005352/en/

Julie Clivio

Director, Marketing and Communications, CDW Canada

647.288.5828 | julie.clivio@cdw.ca

Source: CDW Canada

FAQ

What were the findings of CDW Canada's recent cybersecurity research?

The research found that only 60% of Canadian organizations conduct penetration testing, and 18% do not perform any tests, despite 95% acknowledging the need for cybersecurity.

What percentage of Canadian organizations experienced security breaches according to CDW Canada?

Over 26% of Canadian organizations reported experiencing a security breach in the past two years.

What are the common barriers to penetration testing identified by CDW Canada?

Key barriers include lack of priority (57%), lack of employee expertise (34%), and budget constraints (33%).

What are the potential losses from security breaches as reported by CDW Canada?

Organizations faced loss of productivity (58%), loss of data (37%), and financial loss (25%) due to security breaches.

What is Penetration Testing Awareness Day?

It is an initiative by CDW Canada to raise awareness about the importance of conducting regular penetration testing to enhance cybersecurity.